Prediction Open AI assessment confidence: 95% certainty 3/5 debate potential 1/5

Ackman: Pershing Square will eventually hold 100% of capital in public vehicle

Bill Ackman · #82 Bill Ackman: Getting Back Up · Apr 28, 2020 · at 1:26:49

Pershing Square founder Bill Ackman discusses his 10-year trajectory toward a permanent capital structure modeled after Berkshire Hathaway.

0:00 / 0:13exact quote · 13.2s
720p mp4 · rendered on demand · StarZero watermark
“The vast majority of our capital today is 85%, you know, over time that will be 90 or 95, or eventually a hundred percent of our capital will be in a public enterprise that we're the largest shareholder of.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Bill Ackman

Opinion
Ackman: SoftBank's Mega-Funds Did a Massive Disservice to Startups and Markets
“And so with SoftBank injecting, you know, a hundred billion dollars in marking up the value of companies and giving them capital that they could use to postpone going public, I think it's fundamentally been a disservice to the capital markets and probably to t…”
Bill Ackman Apr 28, 2020 ▶ 37:50 #82 Bill Ackman: Getting Back Up
Disclosure
Pershing Square Bought $2.05 Billion in Equities While Unwinding COVID Hedge
“We'd invested two billion fifty million between March 12th and March 18th at 1230 in the stock market buying, you know, additions, adding to our portfolio, buying, repurchasing Starbucks. We had sold half the hedge for a 1,000,000,300, a little more than half …”
Bill Ackman Apr 28, 2020 ▶ 48:53 #82 Bill Ackman: Getting Back Up
Insight
Ackman: Heavy Index Fund Ownership Reduces Market Liquidity and Amplifies Volatility
“Having index funds as major holders of securities in stable market conditions actually reduces the liquidity of companies, and it means that sort of hedge funds and more active investors who are making day-to-day buy and sell decisions actually push securities…”
Bill Ackman Apr 28, 2020 ▶ 32:27 #82 Bill Ackman: Getting Back Up
Insight
Ackman: Short Sellers Uncover Corporate Fraud Much More Often Than Regulators
“I give a lot of credit to the folks at Muddy Waters who have unearthed a meaningful number of fraudulent companies, and I've yet to find an example of a regulator finding a fraudulent company. It's either a journalist often being fed by a short seller or a sho…”
Bill Ackman Apr 28, 2020 ▶ 40:24 #82 Bill Ackman: Getting Back Up
Opinion
Ackman: Some Tesla short sellers crossed the line trying to harm company
“In the case of Tesla, you know, I do think, you know, some of the short sellers went beyond the role of identifying overvaluation and their attempts to actually harm a company, and that's where I think it goes beyond the pale.”
Bill Ackman Apr 28, 2020 ▶ 41:41 #82 Bill Ackman: Getting Back Up
Disclosure
Ackman: Pershing Square held $71B notional CDS hedge committing $500M annually
“And we at the peak had seventy billion, actually seventy-one billion of notional insurance that cost about an average of 70 basis points per annum. So about five hundred million dollars. We committed to make five hundred million dollars a year in payments for …”
Bill Ackman Apr 28, 2020 ▶ 56:27 #82 Bill Ackman: Getting Back Up
Made with StarZero

Turn any episode into a week of clips.

This entire site, over 200 episodes transcribed, diarized, checked and made playable, runs on the StarZero media pipeline. Drop in your own episode and the podcast clipper finds the moments worth sharing, cuts them, captions them, and reframes them for every feed.